Alternative Investing Report - October 24, 2025

*as of 10/23; Sources: S&P, BTC, FTSE, DJRE, 30YM

The latest Art Basel & UBS Survey of Global Collecting, which surveyed 3,100 high net-worth collectors across ten markets, showed that collectors have increased their allocation to art this year, from 15% in 2024 to 20% in 2025. When sorted by generation, Gen Z collectors leads the way, allocating 26% of their wealth to art as well as the highest share of spending on collectibles. They are also holding onto their collections too, with 90% of Gen Z collectors who inherited works deciding to keep them. Overall, 84% of the high-end collectors are optimistic about the direction of the market, and only 25% of them intend to sell any artwork in the next year.

➨ TAKEAWAY: The art market is undergoing a shift, with younger generations embracing digital artwork and collectibles, blurring the line between art and collectibles. And as more collections get transferred to Gen Z, who seem intent on holding on to their inheritances, they will only grow more influential in the market.

🚀 Megaround funding: Around 70% of all VC funding this year has come in funding rounds of more than $100 million, compared to 58% last year and 48% in 2023. Investors are concentrating their capital into fewer, bigger bets and with two-thirds of these megarounds going to AI companies, heavily weighting into one sector.

🏡 Existing home sales rise: September saw a 1.5% increase in existing home sales, which are now up 4.1% year-over-year as lower mortgage rates have led to slightly more activity. The median sales price rose by 2.1% year-over-year, with the Northeast and Midwest performing substantially better than the West or South.

🏀 Jordan rookie card record: A signed copy of Michael Jordan’s 1986 Fleer rookie card sold for $2.7 million in a private sale, becoming the most valuable Jordan rookie card ever.

🤖 AI-powered Browse Wars: Only two days after OpenAI made a splash with its new Atlas web browser, Microsoft released an update to the Copilot mode of its Edge browser that looks to be a direct competitor.

📉 Mortgage rates fall: The average 30-year fixed mortgage rate fell nine basis points to 6.17%, the lowest level in three years, which could entice more buyers to enter the market.

🪙 Trump pardons Binance founder: While Changpeng “CZ” Zhao has already served his four month prison sentence, the pardon means he could now potentially return to running the largest crypto exchange in the world.

Monday: 🚀 Top pre-IPO companies, 🏡 Housing data
Tuesday: 🏡 Rental market report, 🚀 Defense tech booming
Wednesday: 💰 Gold price tumbles, 🏡 Housing prices
Thursday: ⚾ American Greats auction, 🤖 OpenAI web browser

Have a great weekend!